Multisig != DAO
But you can structure DAOs with Tapscript
"DAOs are supposed to be autonomous, which, at least to me, means humans do not control the decisions they make. Eth people have ruined the meaning of DAO and turned it into a smart contract where keyholders vote on how to spend some money."
Interesting! I think people have lots of different definitions of DAO & none of them are truly decentralized. Will look into Typescript. 🤔
Thank you for this thread. I’ve been wondering…
So can you post an example of a true DAO for me please?
Bitcoin
I would agree that bitcoin can be viewed as a type of DAO 🧠
There is only one DAO.
Si?
I guess that depends how you define it. I know many bitcoiners with different opinions. 🤷🏻♀️ I’m a proponent of using words for communication, so that means listening to what other people mean too. 🤔 Here’s some more food for thought:
It might be more accurate to say you are a proponent of using acronyms for communication, otherwise you might have spelled out the words decentralized autonomous and organization.
So you’re stressing autonomous that the “members” or “participant” have little say on the organizing aspect except as swarm. Others seek to organize in an autonomous space that is horizontal. The CDC case you mentioned frowned on this organizing principle as organizations are defined with members that carry responsibility for their investments. The swarm organizing principle of Bitcoin is comprised of autonomous individuals more in line with market dynamics. I see a problem in using organization as a noun in this case.
Swarm dynamics would be decentralized autonomous organizing.
I suppose then DAO as organized entity rather than self-organizing entity still has some conceptual and legal work to do to come in line with current corporate, commerce and contract law.
It’s nice to see this divergence of principles innovating commerce and corporate entities in different ways.
Exciting times.
Tapscript (BIP 342), a modification of the Script that was introduced as part of the Taproot soft fork to enable some new types of transactions leveraging Schnorr signatures. With Tapscript, you can structure "DAO" with desired quorum/voting and assign custom assets/rights to output
Bitcoiners have very strict definition of DAO. Decentralized (no single/few points of failure) and fully autonomous (not governed by a multisig quorum/MPC).
Bitcoin is a DAO governed by mathematics, enforced by energy. The lifeblood of civilization, money, predicated on the lifeblood and language of the universe - energy and mathematics.
Intellectually dishonest shitcoiners try to pass off "defi" multisig contracts as DAO, then play victim card (and shut down their totally decentralized project) when regulators call their bluff.
“Governments are good at cutting off the heads of centrally controlled networks.” – SN (2008)
